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The bank may hope to blind us with jargon, but its plans look strangely like job losses unlikely to aid customer service

The mother tongue of António Horta-Osório, the new boss of Lloyds, is
Portuguese. He might as well have written parts of his strategic review of
the bank’s future, published this week, in that language for all the sense
that it made to an English speaker.

If a single Times Money reader can explain, for example, what “positive
operating jaws” actually means, I will be impressed. Among the promised
changes were “better end-to-end processes”, a “de-layered management
structure” and “centralised support functions”. I have no idea what any of
this means but I imagine that they are euphemisms for job losses.